“What should the price of my course be?”
This is probably the single most asked question for anyone selling an online course, and with good reason. Pricing is difficult. You have to find the right balance between communicating the value of the course content and what the market is willing to pay.
In many cases, your price-point will be determined by trial and error. But this goes beyond just the price you choose, it also relates to your pricing model.
A combination of your price-point and pricing model will ultimately be what drives your revenue, and every entrepreneur wants to maximize their revenue.
When you complete your course and are about to sell it, consider this strategy: create different levels of the same course.
For example, perhaps you create a “basic” tier for your course that contains most of the content, but then add a “premium” level that includes some extras.
What are enticing extras? Things like networking opportunities (forums/webinars/chats) and download (templates/documents/scripts) are an easy way to add more value to the different tiers of your course.
I have seen this strategy used to great effect. Online course entrepreneurs are taking the same pricing tactic that many software companies have been using for years. The more you pay, the more you get.
Nathan Barry does this for his App Design Handbook. Notice how just the written content is $39, but you can get it with videos for $99. He goes one step further and offers a complete package (that includes templates, interviews, and other resources) for $249.
Same core course is sold in all three.
It’s a simple strategy that has proven to be successful across a variety of industries. It will undoubtedly work for your online course too.